Q1 Crypto Report: Memecoins Lead with Astounding 1312.6% Average Return
Elena R4 Apr 20242 min read
An original report of CoinGecko conducted by their study has revealed that meme coins have dominated the first quarter of 2024 with the meteoric rise in the whole crypto market. Memecoins have emerged as outstanding performers, dominating other tokens with a staggering average return of 1312.6%.
Nonetheless, we have all seen the craze over meme coins. Let’s take a deeper look into the report –
The Supremacy of Memecoins
CoinGecko’s report highlighted the unprecedented success of memecoins, with a jaw-dropping average return of 1312.6% in Q1 2024. Many new tokens like dogwifhat, BOOK OF MEME, BRETT, and Cat in a Dog’s World have shown mind-baffling performance and crypto traders also grabbed amazing profits.
BRETT led the pack with an astonishing 7727.6% gain since its launch, closely followed by dogwifhat (WIF) with a remarkable 2721.2% increase quarter-to-date (QTD).
Altogether, it boosted Memecoin’s dominance in the first quarter of 2024.
The supremacy of memecoins was evident when compared to other crypto narratives. As per the CoinGecko report, memecoins outperformed RWA, the second most profitable narrative, by a staggering 4.6 times.
Also Read : Ripple Blasts SEC Official Gubir Grewal Amid Crypto Regulation Debate
The Runners Up
Nonetheless, Real-World Assets showed 285.6% returns in Q1. The award for two best and top-performing RWAs goes to MANTRA and TokenFi. RWAs were believed to hold the title of the most profitable narrative for a short time before they were overtaken by memecoins and AI tokens. showcasing the diverse opportunities within the cryptocurrency market.
Coming to AI tokens, the narrative has captured to record of a staggering three-digit return at 222.0%. AIOZ Network and Fetch.ai are among the best AI Tokens with substantial growth and development. Even the lowest gainer in the AI category, OriginTrail, has earned a respectable 74.9% return during Q1 2024.
However, the least profitable category in Q1 goes to Layer 2 narrative, which was surpassed by memecoins’ 33.3 times higher returns.
The dominance of memecoins in Q1 2024 has often been termed as a ‘weird bull market’ by analysts since they have even surpassed Bitcoin and other top crypto coins in the number of gains in a short period of time. While memecoins stole the show with skyrocketing returns, RWAs and AI Tokens have also demonstrated significant growth potential.
Also Check Out The : The 3 RWA Crypto Altcoins Poised for 50X Returns
